Uxin will be included in the MSCI Global Small Cap Index - China Index, effective after the US stock market closes on November 30.
Nio-backed online used car trading platform Uxin will soon be included in an MSCI index and is expected to receive inflows of passive investment funds that track it.
Uxin will be included in the MSCI Global Small Cap Index - China Index, effective after the US stock market closes on November 30, the company announced today.
"Uxin's inclusion in the MSCI Global Small Cap Index - China Index represents another key milestone, and a strong testament to the success of our business transformation into an inventory-owning model since last year," said the company's CFO John Lin.
The MSCI Global Small Cap Index - China Index is a free float-adjusted market capitalization index that is comprised of 254 constituents, and represents approximately 14 percent of the China equity universe, according to Uxin's announcement.
Founded in 2011 and listed in the US in June 2018, Uxin is a leading provider of integrated online used car trading services in China.
Uxin has settled on a strategy of growing both its online mall and offline outlets, and with the return of several veteran former employees, it may ramp up its efforts in the offline business, local auto media Auto-time said earlier this month, citing people familiar with the matter.
Uxin officially opened a used-car outlet in Xi'an, Shaanxi province, on April 6 this year, its first offline store for used cars since its inception.
The company's second superstore has been set up in Hefei, which covers nearly 100,000 square meters, four times the size of Uxin's first offline store.
Earlier this month, Uxin got into the used new energy car business and started offering models including the Nio ES8.
Uxin's shares have had a weak year, falling about 40 percent in the past three months.
Uxin ventures into used NEV business, starts offering Nio, Tesla models
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